Synchrony has their own scoring model now

[Anonymous]

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@Anonymous wrote:

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@FinStar wrote:
Well that's a new one 😜

Thanks for sharing this latest SYNCB development.

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Just from a random websearch, I find this:

Experian has a score range from 300 to 620. What is that? 

on a creditkarma post.   My surprise is that the post is from 2012!

ETA: add more local, from here in 2015, and Sync bank

https://ficoforums.myfico.com/t5/Credit-Cards/Score-range-300-to-620-from-Synchrony-bank-WTH/td-p/3919067

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Nice find.

Interesting. I wonder why they are using this for the Marvel card. Will be interesting to see if others have the same issue. 

[Adkins]

Interesting!

[Anonymous]

Thanks for posting this info. Very interesting...Is everyone making their own rules now? Hum, wonder why?

[Anonymous]

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@Remedios wrote:
You did not get it because your oldest card is 8 months old.

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obviously! thanks for your observation.

but you missed the point, my score is high enough to be in the approval range. so the score is meaningless. if my credit is trash because it's 8mo old then don't give me a high score at all. the point was, all of that 8mo of credit was my own, i didn't use any cheats like au cards or co-signed loans to get there. 8mo of real credit should count for more than 20yrs of fake credit that took 10 seconds to build by adding an au card.

[Remedios]

@Anonymous  were you speechless or did forum malfunction again? 

[Anonymous]

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@Remedios wrote:

@Anonymous  were you speechless or did forum malfunction again? 

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Neither.

I was going to comment but I got distracted by my BofA cards and their $91K limits. Then I remembered when my Cash Rewards card had a $85K limit before they "borrowed" $15K to fund my Premium Rewards card. 

Plus I figure you can handle yourself and Creds doesn't know what he/she doesn't know, namely that credit approvals aren't made on the basis of credit scores.

[Hut1]

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@Anonymous wrote:

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@Remedios wrote:
You did not get it because your oldest card is 8 months old.

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obviously! thanks for your observation.

but you missed the point, my score is high enough to be in the approval range. so the score is meaningless. if my credit is trash because it's 8mo old then don't give me a high score at all. the point was, all of that 8mo of credit was my own, i didn't use any cheats like au cards or co-signed loans to get there. 8mo of real credit should count for more than 20yrs of fake credit that took 10 seconds to build by adding an au card.

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So young... so angry... **bleep** that rap music! 

[Anonymous]

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@Anonymous wrote:

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@Remedios wrote:

@Anonymous  were you speechless or did forum malfunction again? 

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Neither.

I was going to comment but I got distracted by my BofA cards and their $91K limits. Then I remembered when my Cash Rewards card had a $85K limit before they "borrowed" $15K to fund my Premium Rewards card. 

Plus I figure you can handle yourself and Creds doesn't know what he/she doesn't know, namely that credit approvals aren't made on the basis of credit scores.

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that's exactly what i just said, the approval isn't made on the basis of the score. you are claiming i don't know it. seriously?

[gdale6]

As a reminder all posts must be in an FSR manner, flaming is a TOS violation here at myFico. Thanks for playing nice.

[Anonymous]

@creds, a macro view of all this:

A young 739 is viewed as a great start but nothing has been proven yet on the timeframe that credit looks at.

It’s great that your score is at that point, it means that you’re doing the right thing paying bills and handling UTI, but it’s not long enough to gauge how you’re going to be long-term. In credit, 8 months is the blink of an eye. Pay a bill an hour after the cutoff and you can usually kiss goodbye any hope of a CLI from that lender for the next two years while paying a 29.99% penalty interest. The more conservative the bank, the longer the timeline for everything is. Chase won’t entertain extending credit without a year’s history, and won’t be the first to offer you a line of credit at $____ - you have to prove yourself with another bank’s money first. Read what people go through to get a USB Altitude Reserve, or a Crystal VISA from CNB. You haven’t even seen a cold shoulder yet.

Feeling like you’re being slighted because of a young age on a good score sucks, but read around and you’ll see where the vets and OGs here have cautioned new credit users many times - a thin file, or young 739 is NOT the same as a 739 with several years of history. That shows you can do this over time, through life’s ups and downs, through bear and bull markets, and still maintain a good profile. That’s what banks want to see to open the vault. Your young profile is no one’s fault, not yours or ours, it just is what it is, and what will improve it is time and moderation in apps and spending.

This is why we’ve tried to caution you against too much too soon. An aged profile with good scores will be approved with 10 inquiries when a young profile is declined with four. You just haven’t been in the game long enough to prove enough to them to get them to open the wallet.

With time and moderation, you will. Without one of those factors, you won’t. That’s really what it comes down to. The score matters, but so does the age and the gradual accumulation of trade lines.